Vaccine Stalemate Pushes Asian Stocks To Show Mixed Trend

Japan sees fresh spate of infection; Covid jab deadlock continues between US and Asian nations
Vaccine Stalemate Pushes Asian Stocks To Show Mixed Trend
Vaccine Stalemate Pushes Asian Stocks To Show Mixed Trend

Asian shares were mixed on Friday as jubilance over positive US economic data and a Wall Street record high were tempered by caution in the region, where the coronavirus vaccine rollout has lagged.

Japan's benchmark Nikkei 225 gained 0.1 per cent to 29,674.31 in morning trading. Australia's S&P/ASX 200 fell nearly 0.1 per cent to 7,052.30.

South Korea's Kospi was little changed, inching up less than 0.1 per cent to 3,194.49. Hong Kong's Hang Seng inched down less than 0.1 per cent to 28,771.21, while the Shanghai Composite added 0.2 per cent to 3,406.93.

Nearly half of American adults have gotten at least one dose of the vaccine, and about 30 per cent of adults in the US have been fully vaccinated, according to the Centers for Disease Control and Prevention.

Japan, where inoculations for the public have barely started, has seen a resurgence of infections in recent weeks. The country's western metropolis of Osaka reported over 1,200 new infections Thursday, its highest since the pandemic began. A top ruling party official suggested the possibility of canceling the Tokyo Olympics, set to start in July, if infections continue to surge.

Prakash Sakpal and Nicholas Mapa, senior economists for ING, said the markets are watching the meeting between Japanese Prime Minister Yoshihide Suga and President Joe Biden, set for the weekend, data from China, including GDP and retail sales, as well as for further news on the pandemic. 

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